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CHAPTER 517 Session Laws - 1995
perform any legal obligation in relation to an examination, -he the
Commissioner shall revoke or suspend all licenses and authority to do
business granted to the company or its agents, and shall give written
notification of the revocation or suspension to all of the company's agents in
this State; and no new bus i ness may thereafter be done by the company or
its agents in this State ""«'' tfe r. unpany' s l icen se and authority to do
business is restored by the Corawsswaet State. Until the Commissioner
restores the company's license and authority to do business in this State,
neither the company nor its agents shall do any new business in this State.
(b) The Commissioner may, after considering the standards under G.S.
58-30-60(b), restrict a foreign insurer's license by prohibiting or limiting
the kind or amount of insurance written by that insurer in this State. The
Commissioner shall remove any restriction under this subsection once the
Commissioner determines that the operations of the insurer are no longer
hazardous to the public or to the in surer's policyholders or creditors.
"
Sec. 3.1. G.S. 58-3-170 reads as rewritten:
"§ 58-3-1 70. Requirements for maternity coverage.
(a) Every entity providing a health benefit plan that provides maternity
coverage in this State shall provide benefits for the necessary care and
treatment related to maternity that are no less favorable than benefits for
physical illness generally.
(b) A health benefit plan that provides maternity coverage shall provide
coverage for inpatient care for a mother and her newly-born child for a
minimum of forty-eight (48) hours after vaginal delivery and a minimum of
ninety-six (96) hours after delivery by caesarean section .
(b) (c) As used in this section, 'health benefit plans' means accident and
healthliTsurance policies or certificates; nonprofit hospital or medical service
corporation contracts; health, hospital, or medical service corporation plan
contracts; health maintenance organization (HMO) subscriber contracts; and
plans provided by a MEWA or plans provided by other benefit
arrangements, to the extent permitted by ERISA."
Sec. 4. G.S. 58-7-30 reads as rewritten:
"§ 58-7-30. Insolvency of ceding insurer; exceptions. exceptions; written
reinsurance agreements.
(a) No credit shall be allowed, as an admitted asset or as a deduction
from liability, to any ceding insurer for reinsurance, unless the reinsurance
is payable by the assuming insurer, on the basis of claims allowed against
the ceding insurer under the contract or contracts reinsured without
diminution because of the insolvency of the ceding insurer, directly to the
ceding insurer or to its domiciliary receiver except (I) where the contract
specifically provides for another payee of the reinsurance in the event of the
insolvency of the ceding insurer or (2) where the assuming insurer, with the
consent of the direct insured or insureds, has assumed the policy obligations
of the ceding insurer as direct obligations of the assuming insurer to the
payees under the policies and in substitution of the obligations of the ceding
insurer to the payees.
(b) No credit shall be allowed, as an admitted asset or as a deduction
from liability, to any ceding insurer for reinsurance, unless the reinsurance
is documented by a policy, certificate, treaty, or other form of agreement
1840

CHAPTER 517 Session Laws - 1995
perform any legal obligation in relation to an examination, -he the
Commissioner shall revoke or suspend all licenses and authority to do
business granted to the company or its agents, and shall give written
notification of the revocation or suspension to all of the company's agents in
this State; and no new bus i ness may thereafter be done by the company or
its agents in this State ""«'' tfe r. unpany' s l icen se and authority to do
business is restored by the Corawsswaet State. Until the Commissioner
restores the company's license and authority to do business in this State,
neither the company nor its agents shall do any new business in this State.
(b) The Commissioner may, after considering the standards under G.S.
58-30-60(b), restrict a foreign insurer's license by prohibiting or limiting
the kind or amount of insurance written by that insurer in this State. The
Commissioner shall remove any restriction under this subsection once the
Commissioner determines that the operations of the insurer are no longer
hazardous to the public or to the in surer's policyholders or creditors.
"
Sec. 3.1. G.S. 58-3-170 reads as rewritten:
"§ 58-3-1 70. Requirements for maternity coverage.
(a) Every entity providing a health benefit plan that provides maternity
coverage in this State shall provide benefits for the necessary care and
treatment related to maternity that are no less favorable than benefits for
physical illness generally.
(b) A health benefit plan that provides maternity coverage shall provide
coverage for inpatient care for a mother and her newly-born child for a
minimum of forty-eight (48) hours after vaginal delivery and a minimum of
ninety-six (96) hours after delivery by caesarean section .
(b) (c) As used in this section, 'health benefit plans' means accident and
healthliTsurance policies or certificates; nonprofit hospital or medical service
corporation contracts; health, hospital, or medical service corporation plan
contracts; health maintenance organization (HMO) subscriber contracts; and
plans provided by a MEWA or plans provided by other benefit
arrangements, to the extent permitted by ERISA."
Sec. 4. G.S. 58-7-30 reads as rewritten:
"§ 58-7-30. Insolvency of ceding insurer; exceptions. exceptions; written
reinsurance agreements.
(a) No credit shall be allowed, as an admitted asset or as a deduction
from liability, to any ceding insurer for reinsurance, unless the reinsurance
is payable by the assuming insurer, on the basis of claims allowed against
the ceding insurer under the contract or contracts reinsured without
diminution because of the insolvency of the ceding insurer, directly to the
ceding insurer or to its domiciliary receiver except (I) where the contract
specifically provides for another payee of the reinsurance in the event of the
insolvency of the ceding insurer or (2) where the assuming insurer, with the
consent of the direct insured or insureds, has assumed the policy obligations
of the ceding insurer as direct obligations of the assuming insurer to the
payees under the policies and in substitution of the obligations of the ceding
insurer to the payees.
(b) No credit shall be allowed, as an admitted asset or as a deduction
from liability, to any ceding insurer for reinsurance, unless the reinsurance
is documented by a policy, certificate, treaty, or other form of agreement
1840